Tax Advantage
Is Driving Deal
To Buy Braves

Swapping Slice of Liberty Stake
For Time Warner Team Creates
Favorable Accounting Scenario

By

Jesse Drucker and

Matthew Karnitschnig

Updated May 27, 2006 12:01 a.m. ET

NEW YORK -- Liberty Media Corp. may be on the verge of buying the Atlanta Braves baseball team -- but it's not because Liberty Chairman John Malone loves baseball.

It's because he loves not paying taxes.

As reported by The Wall Street Journal in March, Liberty is in talks to buy the Braves from Time Warner Inc., in exchange for about 63% of Liberty's 4% stake in Time Warner (see article). In addition to the ball club, valued at...